The average inventory at retail for Flying Fishes Inc was 260,510. The turnover rate at retail was 5.1, based on net sales of 1,328,600. The published inventory turnover at retail is 7. Since the actual turnover rate is less than the published rate, find the target average inventory at retail.(Round your answer to the nearest dollar)
A) 357,563
B) 260,510
C) 189,800
D) 450,310
Q. 2A discount store purchased some special product at a list price of 6,300. If the broker gives a 30.5 trade discount rate, what is the amount of the trade discount?
A) 1,921.50
B) 4,378.50
C) 2,950.00
D) 1,706.00
Q. 3The average inventory at retail for The New Age Furniture Store was 2,575,350. The turnover rate at retail was 3.0, based on net sales of 7,726,050. The published inventory turnover at retail is 4.9. Since the actual turnover rate is less than the published rate, calculate the target average inventory at retail.(Round your answer to the nearest dollar)
A) 1,570,200
B) 207,400
C) 888,800
D) 1,576,745
Q. 4Morgan bought the following: 27 Wren Houses 12.00, 31 Bluebird Houses 21.50, and 17 Bird Feeders 19.75. The shipping charges were 68.00. What was the total invoice charge?
A) 2,214.50
B) 1,587.50
C) 1,394.25
D) 1,590.00
Q. 5The average inventory at retail for Modern Age Furniture was 1,389,008. The turnover rate at retail was 2.6, based on net sales of 3,611,420. The published inventory turnover at retail is 5.3. Since the actual turnover rate is less than the published rate, calculate the target average inventory at retail. (Round your answer to the nearest dollar)
A) 1,570,200
B) 207,400
C) 888,800
D) 681,400
Q. 6What information does the following term or section of an invoice provide: F.O.B. destination?
A) The buyer pays all transportation charges from the seller's location
B) The seller pays all transportation charges to the buyer's location
C) The freight charges are negotiable
D) The freight charges are not negotiable
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